Exxon Mobil (NYSE:XOM) Shares Down 4% on Disappointing Earnings

Exxon Mobil Co. (NYSE:XOM) shares were down 4% on Friday following a dissappointing earnings announcement. The company traded as low as $116.22 and last traded at $116.51. Approximately 10,320,041 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 17,992,779 shares. The stock had previously closed at $121.33.

The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The firm had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. During the same period in the previous year, the company earned $2.83 earnings per share. Exxon Mobil’s revenue was down 4.0% on a year-over-year basis.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is 42.74%.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of recent research reports. UBS Group raised their price target on shares of Exxon Mobil from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Mizuho reissued a “neutral” rating and set a $125.00 target price on shares of Exxon Mobil in a report on Thursday, April 4th. Barclays assumed coverage on shares of Exxon Mobil in a report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target on the stock. Truist Financial lifted their price objective on Exxon Mobil from $140.00 to $146.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company upped their target price on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.28.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the transaction, the vice president now directly owns 30,189 shares of the company’s stock, valued at approximately $3,169,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Exxon Mobil by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after acquiring an additional 1,269,495 shares during the last quarter. FMR LLC raised its holdings in Exxon Mobil by 3.0% in the 3rd quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock valued at $17,072,534,000 after buying an additional 4,162,149 shares during the period. Norges Bank acquired a new position in Exxon Mobil in the fourth quarter valued at about $5,519,753,000. Morgan Stanley boosted its stake in Exxon Mobil by 2.0% during the third quarter. Morgan Stanley now owns 53,828,024 shares of the oil and gas company’s stock worth $6,329,099,000 after buying an additional 1,066,937 shares during the period. Finally, Northern Trust Corp increased its position in shares of Exxon Mobil by 1.3% during the third quarter. Northern Trust Corp now owns 43,696,758 shares of the oil and gas company’s stock valued at $5,137,865,000 after acquiring an additional 576,078 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Down 2.8 %

The business’s 50 day moving average price is $113.04 and its 200-day moving average price is $106.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48. The firm has a market capitalization of $466.88 billion, a PE ratio of 13.11, a P/E/G ratio of 4.16 and a beta of 0.96.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.